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The sportswear merchandise market is huge with an estimated 1.95 million football jerseys sold each year in the UK alone! Whether it be the latest kit or vintage collectibles the revenue opportunity from sports-based merchandise has the potential to grow exponentially through virtual clothing, gaming and NFTs.
The Opportunity for Brands
The Metaverse unlocks a number of new opportunities for brands, ultimately helping them to drive new revenue opportunities, whether that be virtual wearables, digital merchandise, event passes, digital artwork, music, the list goes on and can vary from low cost skins through to high end scarce NFTs.
The opportunities though do not end purely with additional revenue. The Metaverse can help brands to tap into new markets, helping them to expand their cultural footprint beyond their traditional channels, build new relationships with new consumers and fans, gain deeper insights into consumer behaviour, purchase habits and increase efficiencies and personalization at scale, truly blurring the lines between reality and virtual reality.
At republiqe we have partnered with a number of sports brands and helped them to tap into new revenue streams by turning physical in real life kits and merchandise into virtual wearables.
Typically, at a lower cost point these virtual wearables can help brands unlock new customer segments, reach a wider audience, and provide added value to their fan base, all at a fraction of the cost of physical merchandise and with huge ROI potential.